Double your Income Without Doubling your Activity? Here’s a Strategy for you

If you’re an advisor and currently doing anywhere from $100k - $300k production / year and want to DOUBLE this, you’re going to want to pay attention to this.

Within my coaching program, The Financial Advisor Academy, I have an entire module on Prospecting Up. It’s potent AF energy, and I was inspired to share one of the keys that I (and other advisors) have used to really scale up your business – and work with better clients.

Ready for the secret strategy?

✨Create a partnership with another advisor and start passing off non-ideal clients.

Let’s dig into this – but first, here’s an example.

In 2019, I did just under $300k production on 80 new clients. I made around $255k revenue, but I was SO burnt out.

In 2021, I did $315k of production on 36 new clients and brought in ~$400k of revenue (and worked about 2 days LESS per week).

So in the span on 2 years I was able to grow my revenue by over 50% while working significantly less. 🔥🔥🔥

👉 The key? I started working with people who could save more money.

My story is cool, but I share it because it is 1000000000% doable for you.

If you’re doing $150k of production on 50 new clients right now and want to get to $300k production… my guess is that you probably don’t want to do 100 new clients, right? That sounds like a LOT of work 😰 (heck, 80 new clients was a lot for me).

If that’s the case, the “solution” is to start working with people with more money (aka who can save more, have more assets, bigger insurance cases, etc.).

In order to move up market, there are three strategies I share that have been wildly successful (you can learn these strategies in FAA 👏👏)

But before you start prospecting up, there’s one strategy to implement (and the cool thing is you can implement it NOW) that will set up the whole foundation for prospecting up, working less, and being more strategic.

👉 The strategy, as I mentioned: Partner with another advisor and start passing off “non-ideal” clients.

You get to decide who your ideal client is, but the thing is – you have to set a boundary. 😱

I was talking with an advisor this morning and he was sharing a story about a client who he met – great couple – good income ($200k combined house house) but when they came into the conversation, they were only looking for term life insurance (they didn’t want to explore other options).

And for these types of clients, you may be thinking (like I used to, and like he was thinking) “it’s an easy case! One meeting, case closed, it’s better than nothing!”

And THIS is the mindset, my friends, that is holding you back from that next level.

😟 Because it’s not just a quick meeting / case closed.

There’s energy, underwriting, policy delivery, service work…

Behind the “quick close” – there’s HOURS of energy that goes into a client.

(Even if it’s only 1 hour of time, my question is – could you have spent that hour in a more profitable way?)

Here’s the kicker that really shifted things for me. Sometimes we advisors think “If I don’t take this person on – or if I pass them off – I’m losing out of revenue!”

We think about what we’re going to lose.

But what about the lost opportunity cost?

🤯 What about the hour you could have spent looking / prospecting for that A+ referral?

🤯 What about the 30 minutes you could have practiced your language?

🤯 What about the 30 minutes you could have prepped an AMAZING feeds list and gotten 5 A+ referrals?

THIS is the true cost of taking on that client.

So if you want to double you income, my step 1 recommendation: create a partnership where you can start to pass off clients!

Step 2 and beyond is where we go DEEP into where to find your ideal client, what strategies to use to find them, etc.

If you’re interested in exploring the additional steps, fill out an assessment here and I’ll send over a few questions to see if you’d be a good fit for one of my coaching programs:

Assessment 👉 https://www.scottietaylorjr.com/explore

To your massive success,

Scottie

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